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FOX Business
Nov 22, 2012 12:00am EST
are troublesome things. even if they resolve the fiscal cliff, higher taxes will mean less spending in the economy and less reasons to invest and hire more people. melissa: i don't even think resolving the fiscal cliff would make that much of a difference because businesses still face uncertainty scare them of making decisis. first it was about obamacare, and they were so upset and didn'tt to spend any money. and then the election, they still didn't want to do anything. resolving the fiscal cliff will not make them feel any better because the resolution will be higher taxes. >> absolutely. and that is where businesses throw out, chamber of commerce, is ask why they are not doing something, it is uncertainty. they ar paid to manage in uncertainty. there's just a lot of nonsense. the economy is not moving along very well. the discussions will not resolve the fundamental problem from exploding entitlements and mammoth increase in spending imposed on america and now want americans to validate, that is why they are not investing. melissa: it is so true. a timed everybody blamed the weather. unseasonably cold or hot. this all makes me pretty depressed and makes me feel like the economy will not get better anytime soon. >> by reelecting barack obama, he will not crea
Nov 21, 2012 7:00pm EST
very interesting idea, carving out small business owners from the deadly fiscal cliff tax hikes. here now to tell us more is maine senator susan collins. as always, whenever you come on this show, you have something really interesting to tell us. i'm reading about this carve-out for small businesses you are kind of looking after. tell us more, how does this work? >> what i wanted to do was to try to forth a middle ground that protected small businesses from any of the rate hikes that are being discussed. it seems to me that democrats have been focussing mainly on increasing taxes, republicans were focussing mainly on the need to protect small business. and that there was a way to accomplish a middle ground by allowing for a sir tax on the very wealthy, those making over a million dollars a year. but not applying it to small businesses. many of whom paid taxes through the individual income tax system. >> right. that's a key point. all right, i'm going it leave the sir tax alone. i just want to focus, you basically keep small business top rated 35%, and i wanted to ask you, are th
Nov 22, 2012 6:00am PST
the law. that's their new strategy. i think they'll try to use that in the fiscal cliff negotiations to put the health care provisions and try to water them down. the business owners who are against it are going to use this leverage saying it's costly for us. we'll pass it on to employees. to troy to sort to sway public opinion. i think the obama administration on the other hand will do their own campaign to get the word out and for those supporters and uninsured who support this, here's how you sort of lobby for it. i think it's going to be in the next battlefront. >> but if you think this is sort of an anti-working class vendetta, david, what are the likelihoods of these job actions being successful in stopping this? >> i don't know they're going to be able to stop it, but i think that it's a really complicated issue. we had an interesting story the other day who said the vast majority of people eligible for the health care reforms don't understand it. this is a problem that i think the obama administration faces. they'll have to go out and make a better opportunity in terms of publicizing what these changes mean, exactly how it affects individuals, and how they
Nov 21, 2012 6:00pm PST
provision of a fiscal cliff next year if congress does not act the tax increases from 35% to 55%, and the amount you can give tax free to children will drop from $10 million this year to $2 million next year. talking about a significant tax hike. >> the tax attorney says if couples don't take advantage, heirs will pay, dearly. >> so your so million estate is now worth? >> six, roughly. >> so families with more than a couple million are rushing to gift their children before year'slw'"Ñ end. >> our business is up 30% to 40% now. >> the managing directorb> of mfv. >> we've seen a lot of anxiety. a lot of angst to try to move well for the next generation. >> everyone says it's big. >> it could be big enough to have a t behind the number, as >> back at the day care center where money is tight, door he lowers says $10 million exemption should be qlor but estate tax seems high, even to her. >> people also made that money. and... that they're entitled to half of the money. >> as congress debates what the right rate and exemption combination should be, michael sedz there is a real divide among t
Nov 22, 2012 7:00am PST
potential fiscal cliff, usa today says. one company will spend $20 billion less in the next two years if the fiscal cliff happens. >>> the boston herald reports massachusetts highway safety director is resigning. sheila burgess came under fire because her driving record includes seven accidents, four speeding violations and a ticket for not wearing a seat belt. did we mention she's the highway safety director? this week, the governor said it was a screw up his words, to hire burgess for that job. she cites health reasons for her resignation. >>> and the telegraph says the pope says in his new book that christ was born earlier than commonly thought. he says dennis small made that mistake many years ago and nobody caught it. many believe he was born between 17 bc and 200 bc. >>> good morning, and happy thanksgiving! weather outside looking very nice as we expect high pressure to build in overhead. temperatures warming up very nicely toward the afternoon a little chilly early on today. but the latter part of the day mostly sunny skies. we'll crank these temperatures up into the 60s so ge
Nov 21, 2012 11:00pm PST
with republicans about the fiscal cliff. many on the left have been vocal in calling for the president not to buckle on the issues of tax increases on the rich and no cuts to entitlements like social security and medicare. many key players are talking more defiantly on these issues since the election. nancy pelosi for example flatly said she wouldn't go along with a deal that didn't raise tax rates on the rich. let's watch the former speaker. >> we've seen talk about a possible compromise that would leave rates the same but cap deductions for high income earners. is that something that's acceptable? >> no. >> not at all? no way? >> i mean, the president made it very clear in his campaign that there is not enough -- there are not enough -- what you just described is a formula and a blueprint for hampering our future. >> okay. senate majority leader harry reid said social security should be completely off the table. let's watch the senate leader. >> i've told anyone that will listen, including everyone in the white house, including the president, that i am not going to be part
FOX Business
Nov 22, 2012 5:00pm EST
flying by. have you noticed that there is no solution in sight for the fiscal cliff? i am getting nervous here. a sticking point of what taxpayers ought to pay. the patriotic millionaires have questions about that. raising taxes won't slow down business growth. in fact, they went to the white house and asks whether taxes to go up. david is one of those offering to pay more. thank you so much for coming on the show. why do you want to pay more taxes? >> well, i don't want to pay more taxes. i don't think anybody wants here. i'm part of a group called the patriotic millionaires and we are all willing to pay more taxes. so it's clear that all of us, the whole country is in a position where all of us individuals, the working people, the wealthy people, corporations, all of us together have to pay for all of the spending that we have done over the last 12 years. >> why don't we cut spending? why don't we start with something that senator coburn announced today. there is so much that can be saved by cutting nondefense spending, things like a smartphone application. it these are the things we are spending money on. they cut that we can make. >> so we have to do new cuts and paperwork. we have to pay for all of the spending we have done for the las
Nov 22, 2012 1:00pm EST
discussion on the potential impact of fiscal cliff budget cuts on the federal work force. the future of the postal service, which has lost $16 billion in 2012. and a look at some point -- consumer confidence with danielle douglas. >> you've career officers change this army because it becomes a volunteer army. go find them in the villages and towns of america. we did that, and over five or six years we created a splendid force of young men and women who are willing to serve their country as volunteers, and they have the same tradition, culture, loyalty and dedication as any other generation of americans that have ever gone before. they proved themselves in the gulf war, the panama invasion, in the last 10 years in iraq and afghanistan. but the thing we have to keep in mind is something that president lincoln said in his second inaugural address -- care for those who have borne the battle, to care. that means never forget they are carrying the american spirit, the american traditions with them, and when they get injured, hurt, or when they come back to be reintegrated into society, we have to
Search Results 0 to 7 of about 8